Try this!
If (txtAccount.Text <> String.Empty AndAlso cmbProgram.SelectedItem is Nothing AndAlso chkClasslist.SelectedItem is Nothing) orelse
(txtAccount.Text = String.Empty AndAlso cmbProgram.SelectedItem isNot Nothing AndAlso chkClasslist.SelectedItem is Nothing)
orelse
(txtAccount.Text = String.Empty AndAlso cmbProgram.SelectedItem is Nothing AndAlso chkClasslist.SelectedItem isNot Nothing)
Then
Panel2.Visible = True
End If